Efma-Accenture Innovation in Insurance Awards

December 10, 2020

Virtual

#INSAWARDS21

The Efma-Accenture Innovation in Insurance Awards is a global competition showcasing the best new ideas and practices transforming insurance.

Overview

Overview

Why Enter?

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Making the exceptional visible

The Efma-Accenture Innovation in Insurance Awards have been serving as a catalyst for innovation in the insurance sector since their inception in 2016. This global competition rewards the best new ideas and practices that are transforming the industry for the benefit of insurers and customers alike. The 2020 awards launched during the COVID-19 pandemic, but still attracted an impressive 360 entries from 240 institutions in 45 countries, culminating in a virtual awards ceremony on June 17, 2020. View the 2020 winners.

The awards offer powerful insights into how well equipped insurers are for a ‘never normal’ world that is taking shape as we emerge from the pandemic. Read our report with the innovation trends that were identified in our analysis of the 2020 entries.

For more information on the awards visit the Innovation in Insurance Awards Portal or please contact Tracy Pesic, Awards Manager.

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Innovation in Insurance Awards 2020 – Highlights

Highlights from the first-ever virtual 2020 Efma-Accenture Innovation in Insurance Awards ceremony held on June 17.

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Why enter the Innovation in Insurance Awards?

The Efma–Accenture Innovation in Insurance Awards recognize the most innovative initiatives and ideas in insurance globally. Winners are awarded by their peers, with a rigorous, independent judging and voting process.

By entering you will benefit from:

Innovation and inspiration

Help promote a culture of innovation in insurance and benchmark your innovation against those of other insurers.

Recognition

Achieve the recognition of your colleagues and peers, and gain public acclaim for your organization as an innovation leader.

A global network

Network with other executives who are driving innovation and be inspired by the creativity and boldness of your peers.

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2021 Award Categories

Global Innovator

The most innovative insurer. The winner is the organization whose corporate vision commits it successfully to continuous innovation and transformation, to the development and leadership of a broad ecosystem of partners extending beyond insurance, and to the exploitation of emerging technologies that improve the experience of its customers and the performance of its business.

Connected insurance & ecosystems

Innovative practices that give rise to new business models, scalable end-to-end value propositions that capitalize on the power of partnerships, platforms and the Internet of Things. Innovations, diversification opportunities and ecosystems may reach beyond the traditional boundaries of insurance, and may be submitted by incumbents, specialized players and other new competitors.

Core insurance transformation

Significant enhancement of the underwriting, claims or other processes, through improved automation, predictive/behavioral models, artificial intelligence or other advances, to support price optimization, fraud prevention, efficiency, personalization or enhanced agility.

Customer experience

Innovations that significantly enhance the way companies engage with customers. These new approaches create value through, for example, seamless and personalized experiences across physical and/or digital channels, new customer management models, artificial-intelligence-driven advice, and innovative management of customer loyalty and satisfaction.

Insurtech

The creation and/or application of innovative technology that substantially enhances the customer experience and/or develops new sources of value for insurers. This category is reserved for insurance start-ups and spin-offs, and technology firms targeting the insurance industry. Innovations must be stage-one funded, have a market release proposition, and/or have completed a successful market proof of concept.

Produce & service innovation

Innovations that significantly enhance, extend or replace the traditional offer, creating new profit pools by serving new customer segments or existing segments in new ways, and entering or creating new markets typically beyond the reach of insurance players.

Workforce transformation

Innovations that successfully bring together people, culture, leadership, organization and technology, enabling the insurer to realize the full potential of the human and machine workplace.

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Watch highlights from the 2019 global awards

"It’s a wonderful thing to be recognized for the work that we’re doing..."

— Kristina Leach, Director, Product Development, MassMutual

Efma-Accenture Innovation in Insurance Awards Highlights

Efma-Accenture Innovation in Insurance Awards highlights the best examples of insurance technology innovations in multiple categories. See more.

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Highlights from the 2019 North American Awards

"We all get the opportunity to see what everyone else is working on and learn from each other."

— Emily Wright, Senior Data Scientist – Trupanion

North America Efma Accenture Innovation in Insurance Awards 2019 Highlights

The Efma-Accenture Innovation in Insurance Awards celebrate the best of innovation and act as a benchmark for excellence across the insurance industry. See more.

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Watch more Innovation in Insurance Awards videos

Meet our leaders

Kenneth Saldanha

Global Lead – Industry Sector, Insurance

Jim Bramblet

Managing Director – Insurance Lead, North America

Daniele Presutti

Senior Managing Director, DIN Chairman – Insurance Lead, Europe

Naoyuki Shibata

Senior Managing Director – Insurance Lead, Growth Markets

Jean-François Gasc

Managing Director – Insurance, Strategy Consulting, EALA

Erik Sandquist

Managing Director – Insurance, Global Customer Insight & Growth Lead

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Innovation in Insurance Awards 2019 trends

Innovation in Insurance Awards 2019 trends

The Innovation in Insurance Awards show how insurers are leading the next wave of innovation.

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